In business, a niche is a distinct section of a market. So niche appeal would be something, someone, or an idea that appeals to a distinct section of a particular market.
A niche is a “small place”. Niche appeal is something that entrepreneurs think about when trying to come up with a new product or create a new job for themselves. There’s no point in trying to start up a small store selling the same things as Walmart – you’d have to charge so much more for those things and people would just say “forget it – I’ll go to Walmart”. Instead you have to find a product that will appeal to a small but loyal “niche” group. Not everyone is interested in, or can afford, real art (like Monet, etc.). That is a niche market. If you decided to become an art dealer, dealing in original artworks, you know that you would have a very small customer base (niche market) but they would be loyal and they would be spending big bucks if you had the right product for them. “Niche appeal” means something that appeals to a small but loyal group of people.
It means appealling to a small group of people – such as a Bentley may have niche appeal because they are so expensive.
In business, a niche is a distinct section of a market. So niche appeal would be something, someone, or an idea that appeals to a distinct section of a particular market.
A niche is a “small place”. Niche appeal is something that entrepreneurs think about when trying to come up with a new product or create a new job for themselves. There’s no point in trying to start up a small store selling the same things as Walmart – you’d have to charge so much more for those things and people would just say “forget it – I’ll go to Walmart”. Instead you have to find a product that will appeal to a small but loyal “niche” group. Not everyone is interested in, or can afford, real art (like Monet, etc.). That is a niche market. If you decided to become an art dealer, dealing in original artworks, you know that you would have a very small customer base (niche market) but they would be loyal and they would be spending big bucks if you had the right product for them. “Niche appeal” means something that appeals to a small but loyal group of people.